Okada Manila VIP casino stands out
Okada Manila VIP gambling business’ “independence from any Macau VIP operations” could aid its sustainability.
Brokerage Union Gaming Securities LLC suggested in a Tuesday memo summarising its discussions with casino managements; during the recent Global Gaming Expo (G2E) casino trade show and conference in Las Vegas, Nevada, in the United States.
The institution covers the stock of Japanese gaming conglomerate Universal Entertainment Corp; which is the parent of Okada Manila’s promoter, Tiger Resort, Leisure and Entertainment Inc.
Union Gaming analyst John DeCree wrote regarding Universal Entertainment: “Company management noted discerning VIP customers and junkets beginning to choose Okada Manila over peers in the market given the size and amenities of its VIP rooms,” adding that “this type of market share gain is sustainable”.
On October 11 Union Gaming said it was revising upward its estimates for third-quarter 2019 earnings at Universal Entertainment; due to good numbers from Okada Manila. It also reported that gaming machine handle at Okada Manila had risen 33,2% year-on-year for the first nine months of 2019, to nearly €2 billion.
Furthermore, casino revenue at Okada Manila rose by 46.2% year-on-year; with VIP rolling chip volume up 33,5%, to nearly €7,08 billion.
Mr DeCree added, “Okada Manila’s independence from any Macau VIP operations has also been a key competitive advantage”. He continued, it is also worth highlighting that “we attribute some of the success to recent updates to the loyalty programme and slot floor management”.
